Is it time to buy the dip?

We might find a very profitable trade with some leveraged AMD shares. A lot of these leveraged ETFs have some degree of time decay associated with holding the shares overnight. But once the underlying ticker starts to rally, then the time decay is unnoticeable and, in some cases, non-existent.

From a quick glance at the options contracts going a few months out, I could see more calls being bought rather than sold. And more puts were being sold rather than bought. That is a bullish look for the longer-term options trader.